Some awesome things about Personal Finance | Punch Debt In The ...

I woke up to a text from on my good friends yesterday morning that read ?Can I pull 100% of my Roth contributions at any time without penalty?? ?Why yes, yes you can. Roth contributions can be pulled at any time, for any reason, without any repercussions. That?s why I like to think of my Roth IRA as a second-tier emergency fund. My Roth is really just as liquid as my savings account and that?s why I think all young people should seriously consider opening one up. The Roth is ?like the filet mignon of retirement planning for 20-somethings.

But today?s post isn?t actually about Roth IRA?s or filet mignon, but instead just a list about some of the most important things I?ve learned through my personal finance journey. In no specific order, here they are:

• You don?t have to be rich to end up rich. Never knew a $50,000/year salary could turn in to millions in retirement if done right.
• Albert Einstein once said the most powerful force in the?universe?is compound interest. I had no idea?age played such a significant role in one?s financial future. The earlier you get your shizz together, the better off you will be down the road.
• 401k?s sound really boring, but in reality they are pretty straightforward and typically provide a?guaranteed?return on investment (for example my employer automatically matches up to 5% of my gross salary in contributions). Can?t beat a 100%?guaranteed?return on investment anywhere.
• Renting IS NOT a terrible financial decision.
• Minimum payments on debt are the worst. I remember?calculating?how much my $28,000 student loan would end up costing me if I made minimum payments. The answer?.$52,000. Minimum payments suck. BAD!
• Credit Cards are pretty awesome when used responsibly. Girl Ninja and I get airline miles for every dollar we charge to the card, dollars we would have spent anyway for things like groceries and gas. Not to mention, that my C.C. also gives me a 30 day, interest free loan. Awesome sauce!
• Investing really isn?t that complicated. In about 30 minutes you can set up and get started investing in a Roth IRA. Investing seems intimidating, but it really doesn?t have to be. Don?t let fear be an excuse not to act.
• You don?t have to have a car payment. When Girl Ninja and I bought our car a handful of people made inferences that we must now be proud owners of a car payment. Not so much the case. A little saving goes a long way and contrary to popular belief, you don?t need to finance your next car either.

Alright I?ll end this geekgasm here. Don?t want to totally nerd out on you all, but man Personal Finance really can be exciting. The bullet points above were all things that really resonated with me as I?ve navigated the world of PF for the last few years. What bullet points would be on your list? What are some of your favorite things you?ve learned, or come across in your journey?

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